Cardano

Solana

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 <p class="paragraph">Although Solana (SOL) has been following the wider sentiment in the cryptocurrency sector, going through a bit of a setback in the last few days, during which this digital asset recorded a weekly decline of nearly 10%, its price could be finally looking at a significant breakout.</p>
 <p class="paragraph">Specifically, Solana seems to be preparing for the next leg higher, considering its 50-day exponential moving average (EMA) has caught up to its price, flashing a ‘buy,’ as well as printing higher lows again, as per the observations by crypto analyst <em>Jelle</em> shared in an X post on February 23.</p>
 <p class="paragraph">On top of that, according to the pseudonymous crypto market specialist, the fifth-largest digital asset by market capitalization is currently looking at a major resistance level in the area of $125, the breaking of which could trigger a massive <a rel="noopener noreferrer nofollow" title="takeoff" href="https://thebittimes.com/tag/takeoff.html">takeoff</a>, as “all bets are off.”</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/EBcezKGSY2iNdF0C42Uv-78fDNmEvLjFc2kWLohzOSMkz94lxuwICeTcWaaSiRcwHE5rPGNK_XGuST8J2qZ3QmLbxcrFxyKTyZ5dpBUVqSytU0rSJOrbJtG9VG_V-xF6NXq6xwzyCvzAfmlu5SCjDsY" alt>
  <figcaption class="wp-element-caption"><em>Solana price action <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>. Source: </em><em>CryptoJelleNL</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-solana-price-<a rel=" dofollow title="Category Analysis" href="https://thebittimes.com/analysis.html" rel="noopener noreferrer nofollow">Analysis"&gt;Solana price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a></h2>
 <p class="paragraph">As things stand, Solana is currently trading at $101.49, which suggests a decline of&nbsp;3.40% on the day and a&nbsp;9.47% drop over the week, whereas, on its monthly chart, it has increased 16.50%, according to the latest information retrieved on February 23.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/02/23/a9f196799753f4a1d9fadf63989e28e6.webp" alt class="wp-image-156825" srcset="https://cdn.thebittimes.com/images/2024/02/23/a9f196799753f4a1d9fadf63989e28e6.webp 1024w, https://cdn.thebittimes.com/images/2024/02/23/a9f196799753f4a1d9fadf63989e28e6.webp 300w, https://cdn.thebittimes.com/images/2024/02/23/a9f196799753f4a1d9fadf63989e28e6.webp 768w, https://cdn.thebittimes.com/images/2024/02/23/a9f196799753f4a1d9fadf63989e28e6.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Solana 30-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Indeed, Solana could meet the analyst’s expectations and make a massive rally soon, particularly as these bullish predictions coincide with other positive developments surrounding its ecosystem, such as the all-time sales volume of Solana-based non-fungible tokens (NFTs) surpassing $5 billion.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/AQ8un7VKR3eLK-Z1hunxpqY0FfbWj1mLcf0rJVX7N6JdCOjKTVeqOIcEwHhSWLh8bHN1o4ZqRBIz6Oi4AP_uMepFWKZfjY7ZhP_Rd6y0NY3Yyx_tjn7QsXm0cQbY-5R404IjWqRmwP4J2K_sYJGpC3Q" alt>
  <figcaption class="wp-element-caption"><em>Solana-based NFT sales volume chart. Source: </em><em>CryptoSlam</em>
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 <p class="paragraph">Should the forecasts truly materialize, this could make Solana the best life-changing cryptocurrency to buy in 2024. However, it is important to keep up with the developments and carry out one’s own research before investing a major amount of money in any asset.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/all-eyes-on-125-as-solana-prepares-for-takeoff-tbt80623.html">https://thebittimes.com/all-eyes-on-125-as-solana-prepares-for-takeoff-tbt80623.html</a></p>

All eyes on $125 as Solana prepares for takeoff

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